Huge Fair Market Value Bitcoin And Ethereum Price Predictions Revealed
Bitcoin
BTC
, ethereum and other major cryptocurrencies have surged higher in recent weeks as traders brace for a $10 trillion crypto earthquake.
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The bitcoin price, up 20% from this time last month as traders eye a Federal Reserve bombshell, has been left in the dust by the ethereum price which has added a blistering 75%causing some to predict a “hundred-pound gorilla” is “getting closer by the day.”
Now, Anthony Scaramucci, the founder and managing partner at global asset management firm Skybridge Capital and Donald Trumps short-lived White House director of communications, has issued two huge bitcoin and ethereum “fair market value” price predictions.
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The bitcoin price has rocketed 20% over the last month, helped by a huge ethereum price rally.
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“We believe that the leverage has been blown out of the system,” Scaramucci, who launched a bitcoin fund last year, told MarketWatch. “I dont think [the bitcoin price is] going below the low that was reached for this cycle, which would be at around $17,500.”
Scaramucci named “adoption, wallet size, use cases and growth of wallets” as contributing to his “fair market value” bitcoin price prediction of around $40,000 while the ethereum price has a fair market value of around $2,800.
The bitcoin price is currently bouncing around $24,000 per bitcoin, while ethereum’s ether has rocketed higher over the last week to come within touching distance of $2,000 as hype builds over a radical upgrade that’s fast coming down the track.
The bitcoin price has crashed this year as the U.S. Federal Reserve battles soaring inflation with a series of historic interest rate hikes and heavy cuts to its huge pandemic-era stimulus measures.
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The bitcoin price has swung wildly over the last year, soaring to almost $70,000 per bitcoin before … [+]
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“We on the margin are net buyers as incremental cash comes into our funds were net buyers of those two assets because we think that theyre fundamentally undervalued and technically oversold,” Scaramucci said but added, “these are volatile assets and people shoud “take a four to five years view of these assets.”
Despite Scaramucci’s bullishness, withdrawals in Skybridges Legion Strategies fund, which had an almost 20% crypto weighting, remain halted following this year’s crypto price crash that’s wiped $2 trillion from the combined crypto market capitalization and forced a handful of companies to fold.
